Barrick Gold Stock Forecast
Barrick Gold stock price ended at $16.64 on Thursday, after gaining 2.65%.
(Updated on Mar 28, 2024)
The Barrick Gold stock price gained 2.65% on the last trading day (Thursday, 28th Mar 2024), rising from $16.21 to $16.64. During the last trading day the stock fluctuated 2.71% from a day low at $16.26 to a day high of $16.70. The price has risen in 5 of the last 10 days and is up by 5.58% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 39 thousand more shares were traded than the day before. In total, 28 million shares were bought and sold for approximately $464.85 million.
Given the current short-term trend, the stock is expected to fall -8.51% during the next 3 months and, with a 90% probability hold a price between $12.17 and $15.22 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GOLD Signals & Forecast
The Barrick Gold stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $15.85 and $15.22. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 14, 2024, and so far it has risen 18.35%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Barrick Gold stock
On the downside, the stock finds support just below today's level from accumulated volume at $15.76 and $15.53. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Barrick Gold finds support just below today's level at $15.76. If this is broken, then the next support from accumulated volume will be at $15.53 and $15.52.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.440 (2.71%) between high and low. For the last week, the stock has had daily average volatility of 2.70%.
Our recommended stop-loss: $16.02 (-3.74%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (GOLD) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Barrick Gold Corporation to open at $16.53, and during the day (based on 14 day Average True Range), to move between $16.22 and $17.06, which gives a possible trading interval of +/-$0.417 (+/-2.51%) up or down from last closing price. If Barrick Gold Corporation takes out the full calculated possible swing range there will be an estimated 5.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.33 (4.15%) than the support at $15.76 (5.29%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Barrick Gold Corporation stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.397 Buy Candidate Unchanged
Predicted Opening Price for Barrick Gold Corporation of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$16.53 ( 0.641%) | $16.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GOLD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.97 | 2.00 % | |
R2 | 16.81 | 0.99 % | ||
R1 | 16.70 | 0.369 % | ||
Current price: | 16.64 | |||
Support | S1 | 16.37 | -1.65 % | |
S2 | 16.26 | -2.28 % | ||
S3 | 16.09 | -3.29 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 17.69 | 6.31 % | |
R2 | 17.35 | 4.27 % | ||
R1 | 17.33 | 4.15 % | ||
Current price | 16.64 | |||
Support | S1 | 15.76 | -5.29% | |
S2 | 15.53 | -6.67% | ||
S3 | 15.52 | -6.73% |
GOLD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 28, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0.100 | 0.635% |
2 | Nov 29, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.100 | 0.571% |
3 | Aug 08, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.100 | 0.601% |
4 | May 03, 2023 | May 30, 2023 | Jun 15, 2023 | $0.100 | 0.606% |
5 | Feb 15, 2023 | Feb 27, 2023 | Mar 15, 2023 | $0.100 | 0.572% |
FAQ
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